This letter is a client of the bank who has already taken credit but now wants to increase the amount of his credit. These types of letters should have all the necessary information that is crucial for the smooth transaction of the procedure. This type of request letter is written by a client of a bank to increase the credit limit of the loan sanctioned to him.
Through this letter, you can clearly state the reason behind the increase in credit and also enclose the documents supporting the fact. This letter also serves the purpose of written communication by a client to his bank.
The Credit Increase Request letter comprises the reason for which the writer is writing the letter, a brief explanation about the situation the writer currently facing, his or her percentage of increase in the credit that is needed, documents attached to the letter, if any, for the support of the reason.
The writer’s voice should be appealing in the letter such that the concerned manager to whom he or she is writing the letter will respond positively towards the situation. In the end, the writer should mention that he or she will pay the interest accordingly.
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Credit Increase Request Letter Writing Tips
- Firstly it is vital to express your gratitude towards your back for lending your credit.
- You must state in your letter the exact reason for increasing the credit.
- Mention how much increase you want in credit for your purpose.
- The wordings of the letter should be polite while expressing your request for the increase in credit.
- The letter should be brief and to the point.
- The tone of the writer should be very appealing.
- Once you have completed writing the letter, please recheck the same for spelling mistakes or punctuation errors
Credit Increase Request Letter Template
Use our free Credit Increase Request Letter to help you get started.
____________ (your name)
____________ (your address)
Date: ____________ (Date on which letter is written)
____________ (name of the recipient)
____________ (recipient designation)
____________ (Bank name)
____________ (Bank address)
Dear _______ (name of the recipient),
I have recently taken a credit from your bank regarding ____________________. But, due to some increase in overhead cost, I would request you to please increase the credit from ________ to ___________. I would like to bring to your kind attention that I am regularly paying the interest on monthly basis. As per the interest you are charging it will be economically feasible for me to pay the interest even after the required credit increase.
I have called your bank, and they have told me to enclose some documents about the credit increase. I am doing the needful as per the instructions were given. I would be very grateful to you if you could look into the matter and increase my credit on a priority basis. If you have any doubts regarding this matter, call me at ____________ (give your mobile number) so that I can meet you in person to explain you in detail. Hoping for a positive and quick reply from you.
Apartment no. 16,
Mr. Wilson Smith,
Manager (Credit and Loan Department),
Sub: Requesting for the increase in credit
Dear Mr. Smith,
With due respect, I would like to bring to your kind attention that I have taken credit from your bank three months back regarding my son’s education. I am regularly paying the interest of the same every month. But, recently, I have come across some more investments to be made regarding admission procedures.
I would request you to kindly increase the credit limit from $40000 to $50000. As per the interest you are charging, it will be economically feasible for me to pay the interest even after the required credit increase.
I hope that you will take prompt action regarding this matter so that I should not face any inconvenience regarding my son’s admission. As you know that I pay the interest every month on time, I assure you that even the increase in the rate of interest would not affect my payment time. I hope you would positively respond to this and will sanction the credit as soon as possible because of the time constraint I am having.
The following is the Email Format that should be followed while writing a Credit increase Letter.
SUBJECT: University Acceptance Letter.
Dear Mr./Ms/Mrs.______(Name of the recipient)
I had taken credit from your bank ______ (mention the date when you received credit in the bank). I had made ______ (mention the type of loan) loan, payable by me in the period of ______ (mention the given period). I have been regularly paying the interest on the amount.
But now due to some __________________ (mention the consequences you are facing) I think an increase in the credit will be required. I thus, want to increase the credit amount from ______ (given credit amount) to ______ (wanted credit amount). As per the interest, you are charging it will be economically feasible for me to pay the interest even after the required credit increase
I have been in touch with the bank, and they have asked me to give a written application, along with all the related documents. I am, at this moment, enclosing the required papers for my loan. I hope that your esteemed bank will entertain my application for increasing the credit amount.
If there are any doubts regarding this matter, call me at ______ (give your contact details) or reply me to this mail. I hope I will hear a positive reply from you as soon as possible.
(Name of the sender)